ECON 250D1 Lecture Notes - Lecture 6: Swimming Pool, Economic Efficiency, Maine Law
15 Dec 2019
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Effectively excluding it must raise the benefit hence effective but shouldn"t be discriminatory like only for men government would interfere then- some potential users to protect those resources. Common property resource: a resource jointly owned by a group of individuals who cannot (for legal or physical reasons) divide the resource into pieces and dispose of them separately. Public areas become private sometimes because people don"t use them anyways. For example: washington monument even if you are a citizen, thus an owner, you need to have a ticket that"s specifically for a day and time period. Swimming pool example: you need to be an owner or an authorized guest otherwise you can"t. Depending on the area the membership might be cheaper. Open access: highways, roads, streets toll roads a different story-. Problem with open access, when washington monument first open everyone had access to it during hours of operation. On highways, this congestion comes in the form of traffic jams.
